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Verve Energy signs new power supply deal
Release Date: 14 November 2007
WA’s biggest electricity company, Verve Energy has reached agreement with a new electricity retailer, Karara Energy Pty Ltd, to supply up to one-million megawatt hours (MWh) of electricity each year for up to 15 years.
Verve Energy Managing Director Shirley In’t Veld welcomed the long term power supply agreement as a landmark for the company and described it as an example of WA’s new robust electricity market at work.
“This mutually beneficial contract will deliver significant benefits for Verve Energy, the MidWest community and for the State of Western Australia,” Ms In’t Veld said.
“The agreement with Karara Energy demonstrates that Verve Energy is well placed to meet the long-term energy needs of iron ore projects in the MidWest region.
”All of which helps secure the ongoing use of our power stations in the competitive wholesale electricity market.”
Describing the deal with the new electricity retailer as a step in the right direction for Verve Energy, Ms In’t Veld said it also was an example of the opportunities that existed in this market and of what Verve Energy could achieve.
“As a strong advocate of the competitive electricity market, Verve Energy is competing with other generators and capitalising on our commercial focus and reputation for reliable and efficient power supplies to bring success,” she said.
“We have moved on from being just a generator of electricity. We have embraced the competitive electricity market and we are actively seeking new customers in that market.”
CONTACT REFERENCE: PETER WINNER 9424 1977; 0429 041 840
Any queries from the media are directed to Verve Energy's Corporate Relations branch.
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